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Monday, December 16, 2013

Hey, remember how the modest two year budget deal hammered out by Paul Ryan and Patty Murray was a sign that insane partisanship was on its way out? Yeah, you can stop shoveling dirt in gridlock's grave, because Republican hostage-taking isn't all that very dead yet.

Wall Street Journal: House Budget Committee Chairman Paul Ryan (R., Wis.) signaled that Republicans would not raise the debt ceiling next year without some sort of concessions from Democrats, saying lawmakers were still crafting their strategy.

“We, as a caucus, along with our Senate counterparts, are going to meet and discuss what it is we want to get out of the debt limit,” Mr. Ryan said on Fox News Sunday. “We don’t want ‘nothing’ out of the debt limit. We’re going to decide what it is we can accomplish out of this debt limit fight.”

The U.S. government spends more money than it brings in through taxes, which means the Treasury Department has to borrow money by issuing debt. The government can only borrow money up to a certain level - called the debt ceiling – which is set by Congress. In October, lawmakers agreed to “suspend” the debt limit until Feb. 7, 2014. The White House has said it will no longer negotiate with Republicans on conditions for raising the debt limit, but many Republicans have said they will only vote to raise the debt ceiling in exchange for budget changes like spending cuts...[CLICK TO READ FULL POST]